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UPDATE 1-Thinkorswim Q3 profit beats Wall Street view

Thu Oct 30, 2008 5:16pm EDT

* Q3 EPS $0.29 versus market view $0.24

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* Q3 revenue up about 10 pct at $98.1 mln

* Average retail trades up 94 pct

Oct 30 (Reuters) - Thinkorswim Group Inc SWIM.O, an online brokerage and investor education services company, reported quarterly profit above market estimates, helped by strong growth in new accounts and an increase in monthly DARTs (daily average revenue trades).

For the latest third quarter, the company reported a net income of $19.6 million, or 29 cents per share, compared with $18.4 million, or 27 cents a share, a year ago. [ID:nWNAB5330]

"Annualized brokerage revenue per funded account grew to $2,350 on an increase in average retail DARTs to 57,300 during the quarter," Chief Executive Lee Barba said in a statement. [ID:nGNW53506a]

Analysts on average had expected the company to earn 24 cents a share, excluding items, on revenue of $93.1 million, according to Reuters Estimates.

Shares of the company rose as much as 6 percent to $7.89 in after-hours trading. The shares closed up more than 12 percent at $7.43 in regular trading on Nasdaq. (Reporting by Santosh Nadgir in Bangalore; Editing by Gopakumar Warrier)

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